ETH/USD are trading at 168.32 and continue to move as part of the start of development of the «Triangle» model. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $18 689 262 506. Moving averages indicate the presence of a short-term bearish trend for Ethereum. At the moment, we should expect an attempt to grow and test the resistance level near the area of 175.00. Where again we should expect a rebound and the continuation of the Ethereum rate drop with a potential target below the level of 145.00.
Ethereum Forecast and ETH/USD Analysis August 29, 2019
An additional signal in favor of falling ETH/USD quotes will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level of 195.00. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 245.00. With the breakdown of the support area and closing of quotes below 155.00, we can expect acceleration of the development of a downward trend in Ethereum.
Ethereum Forecast and ETH/USD Analysis August 29, 2019 implies an attempt to test the resistance area near the level of 175.00. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 145.00. An additional signal in favor of Ethereum’s fall will be a test of the trend line on the relative strength index (RSI). The cancellation of the option of reducing the digital currency will be the breakdown of the area of 195.00. Which will indicate the continuation of the rise with a potential target above the level of 245.00.
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